901-909 Pico Blvd.Indd

901- 909 PICO BOULEVARD SANTA MONICA, CA 90405

Lambert Investments Inc. • 310.453.9656 • www.lambertinc.com • DRE#00860625 LAMBERT INVESTMENTS, INC. Proudly offers for sale a commercial building in prime Santa Monica, California

901-909 Pico Boulevard, Santa Monica, CA 90405-1326 $8,200,000 Francyne Lambert Mobile: 310.720.9299 [email protected]

Carl Lambert Mobile: 310.663.6030 [email protected]

Shane Moses Mobile: 972-467-6536 [email protected]

2 Breeze Avenue Venice, CA 90291 www.LambertInc.com DRE# 00860625

Ofﬁ ce: 310.453.9656 Fax: 310.829.6288

2 CONTENTS

Executive Summary ...... 4 Demographics

Purchase Price ...... 5

Property Photos ...... 6

Location ...... 9 Plot Map Location Map Aerial

Sales Comparables ...... 12 Sales Comp Map Sales Comps

Lease Comparables ...... 15 Lease Comp Map Lease Comps

Zoning Designation - City of Santa Monica ...... 19

Santa Monica Municipal Code ...... 20

3 DEMOGRAPHICS THE PROPERTY 1 Mile 3 Miles 5 Miles POPULATION 901 – 909 Pico Boulevard is located on the northeast corner of Pico Blvd. Population (2019) 37,411 219,379 476,035 and 9th Street in Santa Monica, just east of Lincoln Boulevard. The building is approximately 9,599 square feet sitting on a commercial lot of approximately Est Population (2024) 39,037 227,170 490,623 6,546 square feet. The property is located just blocks from the beach. Great opportunity for Owner User to own and operate your own building in the HOUSEHOLDS heart of the coastal community of Santa Monica. Households (2019) 20,022 110,538 221,049 Est Households (2024) 20,747 114,077 227,334 The Pico Corridor Neighborhood is going through a major gentrifi cation. Santa Monica remains a premier destination in Los Angeles; it is one of the INCOME most high demand and desirable rental areas in California and the United States. Santa Monica is known for our beautiful beaches, surfi ng, shops, Avg. HH Income (2019) $115,230 $138,568 $140,537 restaurants and evolving employment hubs. Home to the Santa Monica Est. HH Income (2024) $136,397 $161,336 $162,864 Pier, Main Street, The 3rd Street Promenade, Downtown Santa Monica, The Media District and Bergamot Station with numerous galleries and BUSINESS nightlife. The area continues to grow and thrive as tech giants and businesses Business (2019) 5,033 21,454 37,792 expand to Silicon Beach. Located in the desirable Santa Monica Malibu Employees (2019) 42,811 165,124 399,623 Unified School District and close to Santa Monica College. Easily accessible to the Santa Monica (10) Freeway, Pacifi c Coast Highway and close proximity to the new Metro Station, allowing just a short train ride AMENITIESES to many destinations. Santa Monica continues to be a growing vibrant • Commercial Kitchen diverse economy. • Flexible Space • Air Conditioning Close to neighboring communities of Venice Beach, Marina Del Rey, Playa • Upgraded Electrical Del Rey, West Los Angeles, Brentwood, Westwood and Pacifi c Palisades. • High Ceilings The existing tenant is a non-profi t organization that wants the option to re- • Multiple Meeting Rooms, Conference main on site paying a negotiable fair market rent for up to one year with the Rooms and Offi ces option to terminate the lease prior to one year. PROPERTY IS BEING SOLD • Renovations of $1,000,000 were completed AS IS. in 2010

4 FOR SALE Commercial Building 901 - 909 Pico Blvd., Santa Monica, CA 90405-1326

Purchase Price: $8,200,000

Purchase Price: $8,200,000 Price Per Sq Ft: $854

Year Built: 901 Pico Blvd. 1933 907 - 909 Pico Blvd. 1960

Lot Size: 6,546 Building Size: 9,599 Zoning: GC (General Commercial) Please refer to list of uses on Pages 20 - 29

This is a non proﬁ t whose expenses are related to their speciﬁ c use.

5 PROPERTY PHOTOS

6 7 8 9 LOCATION

10 LOCATION - MAP

11 LOCATION - AERIAL

12 SALE COMPARABLES

1 2663-2671 Main St. 2 2702 Main St. 3 2914 Main St.

4 2941-2943 Main St. 5 1020 Pico Blvd. 6 2108-2114 Pico Blvd. 7 3211 Pico Blvd.

8 3213 Pico Blvd. 9 3325 Pico Blvd.

13 SALE COMPARABLES

BUILDING YEAR BULDING SELLING PRICE PRICE/AC SALE # PHOTO ADDRESS CITY TYPE BUILT SIZE PRICE PSF LAND GROSS DATE

Retail Santa 1 2663-2671 Main St Storefront 1913 12,000 SF $13,800,000 $1,150.00 $60,000,000.00 10/09/18 Monica Retail/Ofﬁ ce

2702 Main St - Santa Retail 2 Finn Mccools 1916 3,800 SF $4,590,000 $1,207.89 $50,439,560.44 03/01/19 Monica Storefront Irish Pub

Santa Retail 3 2914 Main St 1927 1,525 SF $2,135,000 $1,400.00 $47,339,246.12 08/21/19 Monica Storefront

Retail Santa 4 2941-2943 Main St Storefront 1911 8,289 SF $10,000,000 $1,206.42 $43,478,260.87 05/09/18 Monica Retail/Ofﬁ ce

Retail Santa 5 1020 Pico Blvd Storefront 1948 7,800 SF $2,500,000 $320.51 $17,857,142.86 11/29/18 Monica Retail/Ofﬁ ce

14 SALE COMPARABLES

BUILDING YEAR BULDING SELLING PRICE PRICE/AC SALE # PHOTO ADDRESS CITY TYPE BUILT SIZE PRICE PSF LAND GROSS DATE

2108-2114 Santa 6 Ofﬁ ce 1948 9,160 SF $8,250,000 $900.66 Pico Blvd Monica

Santa Freestanding 7 3211 Pico Blvd 1959 2,500 SF $2,259,500 $903.80 $18,829,166.67 03/06/19 Monica Retail

Santa Retail 8 3213 Pico Blvd 1976 1,525 SF $1,332,000 $873.44 $22,200,000.00 04/09/19 Monica Storefront

Santa Ofﬁ ce 9 3325 Pico Blvd 1949 1,525 SF $1,275,000 $836.07 $27,777,777.78 09/20/18 Monica Building

15 LEASE COMPARABLES

1 1420 2nd St. 2 1340 3rd Street Promenade 3 145-147 Bay St.

4 1730-1732 Ocean Park Blvd. 5 1317-1321 Santa Monica Blvd.

6 1453-1457 3rd Street Promenade

7 1728 Ocean Park Blvd. 8 2727 Main St. 9 1554 18th St.

10 1433-1437 4th St.

11 2200-2202 Main St.

12 1540 6th St.

13 216 Pico Blvd.

14 1458 3rd Street Promenade

15 2307 Lincoln Blvd.

16 1427 Lincoln Blvd.

17 528 Arizona Ave.

18 528 Arizona Ave.

19 1540 2nd St. 20 2409 Main St. 21 702 Arizona Ave.

16 LEASE COMPARABLES

SQ FT SIGN # PHOTO ADDRESS CITY TYPE RENTAL RATE LEASED DATE

1 1420 2nd St Santa Monica 1,800 07/14/2019 New $4.61 + Utilities

1340 3rd Street 2 Santa Monica 4,000 06/01/2019 New $1.13/NNN Promenade

3 145-147 Bay St Santa Monica 1,850 05/22/2019 New $3.70/NNN

1730-1732 4 Santa Monica 400 04/01/2019 New $4.00/MG Ocean Park Blvd

1317-1321 5 Santa Monica 1,100 02/26/2019 New $3.33/NNN Santa Monica Blvd

1453-1457 6 Santa Monica 2,396 02/19/2019 New $5.50/FS 3rd Street Promenade

Picture 7 1728 Ocean Park Blvd Santa Monica 1,274 02/12/2019 New $4.00/MG Not Available

17 LEASE COMPARABLES

SQ FT SIGN # PHOTO ADDRESS CITY TYPE RENTAL RATE LEASED DATE

8 2727 Main St Santa Monica 407 01/28/2019 New $4.07/FS

9 1554 18th St Santa Monica 2,600 12/06/2018 New $3.15/FS

10 1433-1437 4th St Santa Monica 8,245 11/13/2018 New $5.60/MG

11 2200-2202 Main St Santa Monica 1,141 11/06/2018 New $4.75/NNN

12 1540 6th St Santa Monica 1,226 11/01/2018 New $3.70/MG

13 216 Pico Blvd Santa Monica 280 10/29/2018 New $3.00/FS

1458 3rd Street 14 Santa Monica 4,026 10/22/2018 New $3.89/FS Promenade

18 LEASE COMPARABLES

SQ FT SIGN # PHOTO ADDRESS CITY TYPE RENTAL RATE LEASED DATE

15 2307 Lincoln Blvd Santa Monica 1,647 10/01/2018 New $10.01/NNN

16 1427 Lincoln Blvd Santa Monica 1,423 09/24/2018 New $3.25/NNN

17 528 Arizona Ave Santa Monica 496 09/19/2018 New $4.20/FS

18 528 Arizona Ave Santa Monica 850 09/19/2018 New $4.20/FS

19 1540 2nd St Santa Monica 3,471 09/18/2018 New $5.65/NNN

20 2409 Main St Santa Monica 1,000 09/09/2018 New $3.70/MG

21 702 Arizona Ave Santa Monica 2,500 09/04/2018 New $5.00/NNN

19 ZONING DESIGNATION City of Santa Monica

901 - 909 Pico Boulevard, Santa Monica, CA Zoning Designation: GC (General Commercial)

20 Santa Monica MUNICIPAL CODE Mixed-Use and Commercial Districts.

The purposes of the “Mixed-Use and Commercial” Districts are to:

A. Transform auto-oriented boulevards and corridors into vibrant, diverse, and attractive corridors that support a mix of predominantly residential uses along with pedestrian and neighborhood serving uses in order to achieve an active social environment within a revitalized streetscape.

B. Promote inﬁ ll development, intensiﬁ cation, and reuse of currently underused sites consistent with the General Plan.

C. Increase housing for all income levels along boulevards and encourage a mix of uses that promotes convenience, economic vitality, ﬁ scal stability, and a pleasant quality of life.

D. Establish design standards that improve the visual quality of development and create a uniﬁ ed, distinctive, and attractive character along commercial and mixed-use corridors.

E. Provide appropriate buffers and transition standards between commercial and residential uses to preserve both commercial and mixed- use feasibility and residential quality and provide a sensitive transition between the commercial uses and neighboring residences.

The speciﬁ c designations and the additional purposes of the Mixed-Use and Commercial Districts are:

MUBL Mixed-Use Boulevard Low. This Zoning District is intended to facilitate the transformation of sections of boulevards into vibrant, highly walkable areas with broad, pedestrian-friendly sidewalks, trees, landscaping, and local-serving uses with new buildings that step down in relationship to the scale and character of adjacent low density neighborhoods. Allowable ground fl oor uses include active, local-serving retail, open spaces such as plazas, service-oriented commercial uses, and residential and hotel uses in limited areas. Residential development for all income levels is the predominant use above the fi rst fl oor.

MUB Mixed-Use Boulevard. This Zoning District is intended to facilitate the transformation of underutilized and auto-oriented sections of boulevards into vibrant, diverse, and attractive pedestrian friendly mixed-use boulevards that support local-serving retail and a diversity of housing types. The Mixed-Use Boulevard District provides an environment that will accommodate affordable, workforce, and market-rate

21 MUNICIPAL CODE (cont.)

housing, stepping down in height and mass when adjacent to residential neighborhoods, as well as a variety of local-serving uses. Allowable ground fl oor uses include local-serving retail uses, ground fl oor open spaces such as small parks and plazas, service-oriented commercial uses, and some small-scale offi ce uses. Residential development for all income levels is the predominant use above the fi rst fl oor in certain locations. In parts of the District, especially along the south side of Wilshire, medical and dental offi ces are allowed on all fl oors.

GC General Commercial. This Zoning District is intended to maintain areas for affordable and market rate housing and a broad range of commercial uses that provide necessary daily services such as auto sales and auto repair, convenience retail, hotels, hardware stores, and small restaurants while respecting adjacent residential neighborhoods and established neighborhood commercial areas.

NC Neighborhood Commercial. This Zoning District is intended to maintain and enhance small-scale neighborhood shopping districts that provide daily goods and services easily accessible from surrounding residential neighborhoods while also serving a sub-regional role. This District provides for a scale and character of development that is pedestrian-oriented and which tends to attract and promote a walk-in clientele. Devel- opment within this District should maximize human-scaled elements while providing a sensitive transition between these uses and neighboring residential areas. Ground fl oor uses include active, local-serving retail and service commercial uses such as small restaurants, laundromats, dry cleaners, beauty/barber shops, and clothing and grocery stores. Uses above the ground fl oor include residential, commercial, and local-serving offi ce uses. This District is comprised of four geographic areas:

Main Street. Main Street is a neighborhood commercial street that is home to many boutiques, restaurants, and neighborhood-serving businesses. Main Street has both local and regional appeal, providing an eclectic mix of activities that is unique to Southern California.

Ocean Park Boulevard. Ocean Park Boulevard is a local-serving boulevard with two vibrant, neighborhood-serving commercial areas. The boulevard is a complete street for pedestrians, bicycles, transit, and autos, with an enhanced streetscape and dining, retail, and service needs within walking distance of the Sunset Park and Pico neighborhoods.

Pico Boulevard. Pico Boulevard is a local-serving, commercial boulevard that provides an enhanced environment for pedestrians and includes a wider choice of local-serving retail, expanded mobility, and shared parking.

Montana Avenue. Montana Avenue serves as a local, commercial, and entertainment street that also draws regional visitors who enjoy its many cafés and boutique stores. (Added by Ord. No. 2486CCS §§ 1, 2, adopted June 23, 2015)

22 MUNICIPAL CODE (cont.)

TABLE 9.11.020: LAND USE REGULATIONS—COMMERCIAL AND MIXED-USE CORRIDOR DISTRICTS Use Classifi cation MUBL MUB GC NC Additional Regulations Residential Uses Residential Housing Types See sub-classifi cations below. Single Unit Dwelling P P P P Duplex P P P P Multiple-Unit Structure P P P P Senior Citizen Multiple-Unit Residential P P P P Single-Room Occupancy Housing P P P P Group Residential MUP MUP MUP MUP Congregate Housing P P P P Senior Group Residential P P P P Section 9.31.310, Senior Group Residential Elderly and Long-Term Care P P P – Emergency Shelters L(3)/CUP L(3)/CUP L(3)/CUP L(3)/CUP Section 9.31.130, Emergency Shelters Family Day Care See sub-classifi cations below. Large P P P P Section 9.31.140, Family Day Care, Large Small P P P P Residential Facilities See sub-classifi cations below. Residential Care, General P P P P Section 9.31.270, Residential Care Facilities Residential Care, Limited P P P P Section 9.31.270, Residential Care Facilities Residential Care, Senior P P P P Section 9.31.270, Residential Care Facilities Hospice, General P P P P Hospice, Limited P P P P Supportive Housing P P P P Transitional Housing P P P P

23 MUNICIPAL CODE (cont.)

Public and Semi-Public Uses Adult Day Care P P P L(2)/CUP Child Care and Early Education Facilities P P P L(2)/CUP Section 9.31.120, Child Care and Early Education Facilities Colleges and Trade Schools, CUP CUP P CUP Public or Private Community Assembly L(18)/CUP L(18)/CUP L(18)/CUP L(18)/CUP Community Gardens P P P P Cultural Facilities P P P L(2)/CUP Hospitals and Clinics – P CUP – Park and Recreation Facilities, Public P P P P Public Safety Facilities P P P CUP Schools, Public or Private P CUP CUP P Social Service Centers P P P P Section 9.31.350, Social Service Centers Commercial Uses Animal Care, Sales, and Services See sub-classiﬁ cations below. Grooming and Pet Stores L(19)/CUP L(19)/CUP L(19)/CUP L(2)/CUP No more than 10 dogs or cats may be kept overnight Pet Day Care Services MUP MUP MUP MUP Veterinary Services MUP MUP MUP MUP Automobile/Vehicle Sales and Service See sub-classiﬁ cations below. Alternative Fuels and Recharging Facilities CUP CUP CUP CUP Automobile Rental CUP MUP MUP – Section 9.31.050, Automobile Rental Automobile Storage Use L(4)/CUP – – – New Automobile/Vehicle Sales and Leasing – – CUP(6) – Section 9.31.070, Automobile/Vehicle Sales, Leasing, and Storage Additions 7,500 square feet or less to Automobile/ L(5)/MUP L(5)/MUP L(5)/MUP – Section 9.31.070, Automobile/Vehicle Sales, Leasing, and Storage Vehicle Sales and Leasing buildings existing as of 07/06/2010

24 MUNICIPAL CODE (cont.)

Additions larger than 7,500 square feet to Automobile/ CUP (5) CUP (5) CUP (5) – Section 9.31.070, Automobile/Vehicle Sales, Leasing, and Storage Vehicle Sales and Leasing buildings existing as of 07/06/2010 Automobile/Vehicle Repair, Major – – CUP – Section 9.31.060, Automobile/Vehicle Repair, Major and Minor Automobile/Vehicle Service and Repair, Minor CUP – CUP – Section 9.31.060, Automobile/Vehicle Repair, Major and Minor Automobile/Vehicle Washing – – CUP – Section 9.31.080, Automobile/Vehicle Washing Service Station CUP CUP MUP – Section 9.31.320, Service Stations Towing and Impound – – CUP – Banks and Financial Institutions See sub-classiﬁ cations below. Banks and Credit Unions L(2)/CUP L(2)/CUP L(2)/CUP L(2)/CUP Check Cashing Businesses – – – – Business Services L(19)/CUP L(19)/CUP L(19)/CUP L(2)/CUP Commercial Entertainment and Recreation See sub-classiﬁ cations below. Cinemas L(7) – – L(7) Theaters L(8)/CUP L(8)/CUP L(8)/CUP L(8)/CUP Convention and Conference Centers – CUP CUP – Large-Scale Facility CUP CUP CUP - Small-Scale Facility L(9)/CUP L(9)/CUP L(9)/CUP CUP (16) Section 9.31.340, Small-Scale Facility, Game Arcades Fortune Telling P P P P

25 MUNICIPAL CODE (cont.)

Eating and Drinking Establishments See sub-classifi cations below. Bars/Nightclubs/Lounges CUP CUP CUP CUP Section 9.31.040, Alcoholic Beverage Sales Restaurants, Full-Service, Limited Service & Take-out P P P L(10)(11) Section 9.31.040, Alcoholic Beverage Sales (2,500 square feet and smaller, including Outdoor Section 9.31.280, Restaurants, Limited Service and Take-Out Only Dining and Seating) Section 9.31.290, Restaurants With Entertainment Section 9.31.200, Outdoor Dining and Seating Restaurants, Full-Service, Limited Service & Take-out MUP MUP MUP MUP (10)(11) Section 9.31.040, Alcoholic Beverage Sales (2,501 – 5,000 square feet, including Outdoor Dining Section 9.31.280, Restaurants, Limited Service and Take-Out Only and Seating) Section 9.31.290, Restaurants With Entertainment Section 9.31.200, Outdoor Dining and Seating Restaurants, Full-Service, Limited Service & Take-out CUP CUP CUP CUP (10)(11) Section 9.31.040, Alcoholic Beverage Sales (greater than 5,000 square feet, including Outdoor Section 9.31.280, Restaurants, Limited Service and Take-Out Only Dining and Seating) Section 9.31.290, Restaurants With Entertainment Section 9.31.200, Outdoor Dining and Seating Equipment Rental – L(19)/CUP L(19)/CUP – Food and Beverage Sales See sub-classifi cations below. Convenience Market CUP CUP CUP CUP Section 9.31.040, Alcoholic Beverage Sales Farmers Markets CUP CUP CUP CUP General Market L(12)/CUP L(12)/CUP L(12)/CUP L(12)/CUP Section 9.31.040, Alcoholic Beverage Sales Liquor Stores CUP CUP CUP CUP Section 9.31.040, Alcoholic Beverage Sales Funeral Parlors and Mortuaries – CUP CUP – Instructional Services L(19)/CUP L(19)/CUP L(19)/CUP L(17)/CUP Live-Work L(14) L(14) L(14) L(14) Section 9.31.170, Live-Work Lodging See sub-classifi cations below. Bed and Breakfast MUP MUP MUP MUP Section 9.31.090, Bed and Breakfasts Hotels and Motels CUP CUP CUP – Maintenance and Repair Services L(19)/CUP L(19)/CUP L(19)/CUP L(2)/CUP Nurseries and Garden Centers L(19)/CUP L(19)/CUP L(19)/CUP L(17)/CUP Section 9.31.220, Outdoor Retail Display and Sales

26 MUNICIPAL CODE (cont.)

Offi ces See sub-classifi cations below. Business and Professional L(21)/CUP L(21)/CUP L(21)/CUP L(21)/CUP Creative L(21)/CUP L(21)/CUP L(21)/CUP L(21)/CUP Medical and Dental L(21)/CUP L(21)/CUP L(21)/CUP L(21)/CUP Walk-In Clientele L(21)/CUP L(21)/CUP L(21)/CUP L(21)/CUP Outdoor Newsstands MUP MUP MUP MUP Section 9.31.210, Outdoor Newsstands Parking, Public or Private CUP CUP CUP CUP Personal Services See sub-classifi cations below. General Personal Services L(19)/CUP L(19)/CUP L(19)/CUP L(2)/CUP Section 9.31.230, Personal Service Personal Services, Physical Training L(19)(20) L(19)(20) L(19)(20) L(2)(20)/CUP Tattoo or Body Modifi cation Parlor MUP MUP MUP MUP Section 9.31.230, Personal Service Retail Sales See sub-classifi cations below. Building Materials Sales and Services – – CUP – Section 9.31.220, Outdoor Retail Display and Sales General Retail Sales, Small-scale L(19)/CUP L(19)/CUP L(19)/CUP L(2)/CUP Section 9.31.220, Outdoor Retail Display and Sales General Retail Sales, Medium-scale CUP CUP L(19)/CUP – Section 9.31.220, Outdoor Retail Display and Sales General Retail Sales, Large-scale – – CUP – Section 9.31.220, Outdoor Retail Display and Sales Medical Marijuana Dispensaries CUP(15) CUP(15) CUP(15) – Section 9.31.185, Medical Marijuana Dispensaries Pawn Shops – – – – Swap Meets – – CUP – Section 9.31.360, Swap Meets Industrial Uses Artist’s Studio P P P P Commercial Kitchens – – CUP – Media Production See sub-classifi cations below. Support Facilities L(21)/CUP L(21)/CUP L(21)/CUP L(21)/CUP

27 MUNICIPAL CODE (cont.)

Transportation, Communication, and Utilities Uses Bus/Rail Passenger Stations P P P P City Bikeshare Facility P P P P Communication Facilities See sub-classifi cations below. Antennas and Transmission Towers – – CUP – Equipment within Buildings – – P – Light Fleet-Based Services – – CUP – Utilities, Major – L(13) L(13) – Utilities, Minor P P P P Specifi c Limitations: (1) Reserved. (2) Limited to facilities with no more than 7,500 square feet of fl oor area and/or 40 linear feet of ground fl oor street frontage; greater area and/or width requires approval of a Conditional Use Permit. (3) Limited to shelters containing less than 55 beds; Conditional Use Permit required for emergency shelters with 55 or more beds. (4) Limited to automobile storage use associated with existing automobile dealerships selling new vehicles; otherwise, requires Conditional Use Permit. (5) Auto dealerships existing as of July 6, 2010 are considered permitted uses. Expansions to existing dealerships conforming to the Urban Auto Dealership Format standards in Section 9.31.070, Automobile/Vehicle Sales, Leasing, and Storage are permitted. Expansions to existing dealerships that do not conform to the Urban Auto Dealership Format standards shall require a MUP or CUP. (6) New auto dealerships may be allowed, subject to approval of a Conditional Use Permit, only on sites with frontage on Santa Monica Boulevard between Lincoln Boulevard and 20th Street on Lincoln Boulevard between Interstate 10 and Santa Monica Boulevard. In other locations, new automobile dealerships are not permitted. (7) Limited to existing cinema buildings. New cinemas are not permitted. (8) Limited to theaters with 75 or fewer seats. Theaters with more than 75 seats require Conditional Use Permit. (9) Limited to exercise facilities (e.g., yoga, Pilates, martial arts, and dance studios) and arts instruction facilities. Other Small-Scale Commercial Recreation uses require approval of a Conditional Use Permit. (10) Limited to restaurants with 50 or fewer seats.

28 MUNICIPAL CODE (cont.)

(11) Limited to 2 restaurants greater than 2,500 square feet per block along Main Street. A block is defi ned as both sides of Main Street and the adjacent sides of adjoining side streets. Portions of Main Street to be designated a “block” for the purpose of this Section are as follows: Block 1: South City Limits to Marine Street. Block 2: Marine Street to Pier Avenue. Block 3: Pier Avenue to Ashland Avenue. Block 4: Ashland Avenue to Hill. Block 5: Hill to Ocean Park Boulevard. Block 6: Ocean Park Boulevard to Hollister Avenue (total of four restaurants and bars permitted in this block). Block 7: Hollister Avenue to Strand. Block 8: Strand to Pacifi c. Block 9: Pacifi c to Bicknell. Block 10: Bicknell to Bay. Block 11: Bay to Pico Boulevard.

North of Ocean Park Boulevard restaurants shall be subject to the following requirements: Only one restaurant on the east side of each block shall be permitted. No more than 200 seats per each block shall be permitted, except that no more than 400 seats shall be permitted in Block 6. On-sale alcohol outlets may not exceed 12 in number north of Ocean Park Boulevard. Of the 12 total on-sale outlets, no more than 5 shall have on-sale general licenses. Bars may not exceed 4 in number south of Ocean Park Boulevard, nor 2 in number north of Ocean Park Boulevard. Existing uses and existing number of seats shall count toward the total number of bars and restaurants and seating requirements permitted within the district. (12) General Markets greater than 15,000 square feet require a Conditional Use Permit. In the Neighborhood Commercial district, establishments shall not exceed 25,000 square ft. of ﬂ oor area. (13) Limited to electric distribution substations. (14) If the commercial use requires a MUP or CUP, an application shall be required in accordance with Chapter 9.41. Even if the commercial use would otherwise be permitted, no such use shall be approved where, given the design or proposed design of the Live-Work unit, there would be the potential for adverse health impacts from the proposed use on the people residing in the unit. An example of a potential health impact is the potential for food contamination from uses that generate airborne particulates in a unit with an unenclosed kitchen.

29 MUNICIPAL CODE (cont.)

(15) Medical Marijuana Dispensaries are limited to the following locations: · MUB District along Wilshire Boulevard between Lincoln Boulevard and Centinela Avenue; · GC District along Santa Monica Boulevard between Lincoln Boulevard and 20th Street; and · MUBL District along Santa Monica Boulevard between 23rd Street and Centinela Avenue. (16) Limited to facilities of no more than 3,000 square feet of fl oor area. (17) No individual tenant space in the NC District shall occupy more than 7,500 square feet of fl oor area and/or exceed 50 linear feet of ground fl oor street frontage without the approval of a Condi- tional Use Permit. (18) Any community assembly facility abutting a residential district shall require a Conditional Use Permit. (19) No individual tenant space in the MUBL, MUB, and GC Districts shall occupy more than 12,500 square feet of fl oor area and/or exceed 75 linear feet of ground fl oor street frontage without the approval of a Conditional Use Permit. (20) Youth-serving Personal Services, Physical Training requires review and approval of a passenger loading and drop-off plan by the Director. (21) Permitted if within buildings existing as of July 24, 2015, subject to the Active Use Requirement, except: · All new construction, including new additions of 50% or more additional square footage to an existing building at any one time, or incrementally, after the effective date of this Ordinance, requires approval of a Conditional Use Permit. · In the NC District, ground fl oor, street-fronting, tenant space occupied by non-Media Production, Support Facility uses shall not be changed to an individual offi ce use or Media Production, Support Facility use occupying more than 12,500 square feet of fl oor area and/or exceeding 75 linear feet of street frontage without the approval of a Conditional Use Permit. · In the NC District, no non-medical or non-dental offi ce use tenant space shall be changed to an individual medical or dental offi ce use anywhere in an existing building occupying more than 7,500 square feet of fl oor area and/or exceeding 50 linear feet of ground fl oor street frontage without the approval of a Conditional Use Permit. · In the MUBL, MUB, and GC Districts, no non-medical or non-dental offi ce use tenant space shall be changed to an individual medical or dental offi ce use anywhere in an existing building occupying more than 12,500 square feet of fl oor area and/or exceeding 75 linear feet of ground fl oor street frontage without approval of a Conditional Use Permit.

(Added by Ord. No. 2486CCS §§ 1, 2, adopted June 23, 2015; amended by Ord. No. 2520CCS § 2, adopted June 14, 2016; Ord. No. 2521CCS § 1, adopted June 14, 2016; Ord. No. 2536CCS § 5, adopted February 28, 2017; Ord. No. 2606CCS § 6, adopted April 9, 2019)

30 LAMBERT INVESTMENTS, INC.

Lambert Investments, Inc. is often referred to as “The Broker’s Broker”. Specializing in apartment sales throughout West Los Angeles for over three decades, with prominence and leadership throughout Santa Monica, Venice Beach and the Westside through Downtown Los Angeles and the San Fernando Valley.

Francyne Lambert; Vice President A California real estate broker since 1979, Francyne Shapiro-Lambert is a specialist in the brokerage of commercial properties and apartment buildings on the Westside of Los Angeles and surrounding areas. In 1986, she joined Lam- bert Investments, bringing her wealth of experience in Westside real estate along with her proven negotiating and closing skills.

Francyne is highly accomplished in all aspects of site acquisition, subdivision recordation, marketing, project management, leasing, property management, and communication and negotiation with governmental agencies. Her expertise includes conversions and navigating the complexities of apartment rent control in Santa Monica.

Since 1979, Francyne has sold some of the same properties numerous times. She has repeatedly demonstrated the ability to assess and satisfy clients’ needs and buying criteria along with strong solid marketing presentations that equal results. Her exceptional marketing skills, longevity and closing record is matched by few Westside Brokers. Francyne is a mentor to women in business through the Jewish Federation and is a frequent contributor to the Westside Apartment and Apartment Age magazines.

A goal oriented, detail conscious person, Francyne began her professional career as a correspondent for Newsweek magazine in the Los Angeles bureau.

Francyne has established a solid reputation for exceptional negotiating and closing, in addition to an uncanny ability to structure and closing complex transactions.

Francyne has earned a reputation for bringing high vacancy centers to 100% occupancy at increased rental rates by adding value to previously troubled properties.

Lambert Investments Inc. • 310.453.9656 • www.lambertinc.com • BRE#00860625 31 LAMBERT INVESTMENTS (Cont.)

Carl Lambert; Principal As principal of Lambert Investments, Inc., Carl Lambert’s education and professional experience provide clients with a complete un- derstanding of real estate transactions from practical, business, legal and tax perspectives.

With a law degree from Southwestern University and a business degree from Pepperdine University, coupled with a Master of Science Degree in Taxation, Carl enjoys a unique educational background.

Lambert Investments, Inc. was formed in 1979 as a real estate brokerage, syndication and property management ﬁ rm. With emphasis in Santa Monica and the Westside of Los Angeles, Lambert Investments has carefully navigated scores of clients through the myriad of challenges associated with land use issues, rent control, entitlement issues and other restrictions impacting the purchase and sale of real estate.

Lambert Investments is unlike other brokerage ﬁ rms because it focuses on a limited number of transactions each year. In many instances, these transactions require special knowledge and practical experience unavailable from most real estate brokers.

Carl Lambert’s knowledge and accomplishments as past President of Action Apartment Owners Association and as a Director of both the local and statewide Apartment Owners Associations, coupled with his creative solutions to difﬁ cult rent control and land use issues, continue to beneﬁ t clients and their properties throughout the Westside. His work with both local and state government regulators has been instrumental in the adoption of vacancy decontrol legislation.

Lambert Investments is a unique real estate “player”, with the specialized qualiﬁ cations to make a meaningful difference for both buyer and seller.

Lambert Investments Inc. • 310.453.9656 • www.lambertinc.com • BRE#00860625 32 CONFIDENTIALITY & DISCLAIMER

All materials and information received or derived from Lambert Investments, Inc, its directors, offi cers, agents, advisors, affi liates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of com- plaince with applicable governmental requirements, developability or suitability, fi nancial performance of the property, projected fi nancial performance of the property, projected fi nancial performance of the property for any party’s intended use or any and all other matters.

Neither Lambert Investments, Inc., its directors, offi cers, agents, advisors or affi liates makes any representation or warranty, express or implied, as to accuracy or completeness of the materials or information provided, derived or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of signifi cance to such party. Lambert Investments, Inc. will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investiga- tions including through appropriate third party independent professionals selected by such party. All ﬁ nancial data should be veriﬁ ed by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Lambert Investments, Inc. makes no warranties and/or representations.

NOTICE OF DATA COLLECTION - We obtained the information herein from sources we believe to be reliable, however, we have not veriﬁ ed its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or ﬁ nancing or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not rep- resent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.